HOUSING STARTS-UP’S UP 14.6% IN JUNE TO 629,000!
According to Commerce Department information, housing start-ups increased 14.6% in June which show continued gains in comparison to previous months. The housing start-up data came in well above analysts’ expectations.
Analysts polled were expecting housing starts to come in at 580,000 for June. However, housing start-up’s increased to the highest level since January of 2011 at 629,000 Nationally. This statistic is well above the seasonally adjusted basis of 549,000 for May and nearly seventeen percent higher than a year earlier.
In a simultaneous release, the department of Housing and Urban Development and the Census Bureau stated that housing starts climbed 9.4% in June—up substantially from May. All in all, expectations from analysts were low.
June’s increase continues to provide positive data on the steady climb in housing starts which is a very good sign for the construction industry.